It will work for very low currents, then you get into saturation and inductance will drop off very fast.

Now, you might be able to do something with the primary -- like perhaps place a coil in series with while attempting to use the secondary as the inductor. Thus you will get an inductance which looks like a much larger value than the one you are putting in there + you get some reactance from the transformer.

If it is not a toroid you might be able to pull the thing apart and create a small air-gap. Then you might even be able to use the primary as inductor, or even wire the two in series.